Open But Not Really Open
This is just a reminder that the Friday after Thanksgiving is the most useless and inconsequential trading day of the year. In very rare cases, movement can be tied to actual events/data, but that's not the case today. We do not publish detailed commentary on this particular Friday unless something interesting is happening. We're only publishing this to let you know we're watching and still not seeing anything interesting.
Market Movement Recap
10:03 AM sideways overnight and modestly weaker so far. MBS down 2 ticks (.06) and 10yr up 1.7bps at 4.012
CPI Helped Bonds Avoid Losing Ground
CPI Helped Bonds Avoid Losing Ground
Bonds began the day in slightly weaker territory and managed to flip into slightly stronger territory after the CPI data. Core monthly CPI printed at 0.2, but was rounded do…